Main items we can see on the chart:
a) The price has reached a major Support zone
b) The previous bullish movement happened in the next sequence:
-The price broke a descending structure
-The price made a corrective pattern above the broken descending structure
-New bullish movement came after the breakout.
c) If we take the previous scenario as the chain of events before a bullish movement. Then, the price has fulfilled all of them
d) We have a broken descending structure + Corrective pattern
e) Based on all those items we expect a bullish movement with a target on 1.12
a) The price has reached a major Support zone
b) The previous bullish movement happened in the next sequence:
-The price broke a descending structure
-The price made a corrective pattern above the broken descending structure
-New bullish movement came after the breakout.
c) If we take the previous scenario as the chain of events before a bullish movement. Then, the price has fulfilled all of them
d) We have a broken descending structure + Corrective pattern
e) Based on all those items we expect a bullish movement with a target on 1.12